Getting to know Compass the Real Estate Brokerage
Hi there! In late January 2024 I moved brokerages. After 7 valuable and fulfilling years at BNP Realtors, I joined Compass Bellingham as a next step in my career. I’ve been at Compass Bellingham for almost a month and I can safely say, this new career move was an obvious GREAT decision. I know wholeheartedly what an incredible brokerage this is going to be for my clients, my business, and myself.
In this blog I’m going to share some of the following questions that have popped up:
How is Compass different from other brokers?
Who owns Compass?
Is Compass an Online Brokerage?
What is the difference between Compass and Zillow?
Is Compass the number one brokerage in the US?
In the future blogs I’ll talk about why you should use a Compass Agent, Compass Tools for Buyers, and Compass Tools for Sellers. But for now, let’s dive right in and get to know Compass real estate!
How is Compass Different from Other Brokers?
“Compass is building the first modern real estate platform, pairing the industry's top talent with technology to make the search and sell experience intelligent and seamless.” and it’s true! Compass was founded in 2012 (more on that later) and what makes Compass different from other real estate brokerages is its technology, client programs, its credibility, and community of agents.
So, basically, Compass Agents are empowered by the tools and solution-driven mindset which provides us as brokers the opportunity to give more quality service to our clients and allows for a stronger work-life-balance as well. Compass is leading the real estate industry as a tech company reinventing the space.
Even though Compass expands over 72 markets, over 300 offices, and 28,000 agents there are still local agents at its heart. As you might expect, Compass Seattle is made up of local Seattle agents and Compass Bellingham is a group of local real estate agents who know and love the Bellingham area.
Who Owns Compass?
Compass was founded originally as “Urban Compass Inc.” in New York City in October 2012 by a group of established individuals: Ori Allon was a Director of Engineering at Twitter, and previously founded companies acquired by Twitter and Google. Robert Reffkin had previously served as the chief of staff to the president of Goldman Sachs and worked in the White House. Avi Dorfman had previously worked at McKinsey & Company and Lehman Brothers. So, Allon, Reffkin, and Dorfman established Compass.
As for who owns it, Compass is a publicly traded company, traded as NYSE: COMP at the time of writing this, the “owner” is SoftBank Vision Fund (30.1%) and Robert Reffkin (2.1%). That said, one of Compass’ taglines is “Agent as CEO” which has been validated through each step of my onboarding process.
Is Compass an Online Brokerage
This is an interesting one! Breaking down real estate brokerages into different categories we come out with three: National, Boutique, and Virtual. A national brokerage has a presence across the country. Think: Keller Williams, RE/MAX, Coldwell Banker, and Century 21. A boutique brokerage is a small, localized company that offers a personalized experience for agents and clients. Virtual brokerages, also known as cloud brokerages, are online only with no physical location.
As a tech company Compass has empowered Brokers to be able to do their work from anywhere BUT Compass still has physical offices (Have you visited my spot at 1318 12th street over in Fairhaven?). This gives us the opportunity to engage with other brokers in our office, have a space for clients, and host community gatherings and participate with activities, AND it’s still a group of smaller local agents.
Compass is simultaneously an online, national, and boutique brokerage where agents and their clients come first! Truly a real estate company with a purpose whose mission is to help everyone find their place in the world.
What is the difference between Zillow and Compass?
Compass boasts an incredible platform which pulls from the NWMLS and allows agents and clients to discuss on a very clever portal for starters. But the difference between Zillow and Compass is that Compass is a brokerage firm, meaning it has agents and office, while Zillow is a listing aggregation website. Zillow’s function is to showcase what’s available from thousands of different brokerages, Compass’ function is to help clients through transactions.
Is Compass the number one brokerage in the US?
Let’s talk numbers! Compass agents serve vibrant communities across the U.S. making Compass the country's largest independent real estate brokerage (72 markets, 300+ offices, 28,000 agents). According to Yahoo Finance, “The data on the brokerage-owned operations reveals that Compass has retained the top brokerage spot it gained last year for the first time, with 2022 sales volume of $228 billion.”
And check out all these other stats showcasing the Compass Advantage! *stats as of 2024
I’m only just getting started with this incredible brokerage but am already seeing the effects of it elevating my services for my clients. If your interested in how the Compass Advantage could add value to your home search or sale feel free to book an appointment or send me an email.
Thank you for reading!
